What’s scaring the bejeezus out of billionaires?
There’s a new political army on the march in America: Tromp-tromp-tromp they came, it’s the Billionaire Brigade!
It’s actually a very small army – only 749 Americans rank as billionaires. But they have a lot of firepower – collectively, they’ve amassed some $4-trillion in personal wealth and are now grabbing nearly all of the new wealth that our economy generates. In response to the extreme inequality their greed has created, Bernie Sanders, Elizabeth Warren, and other Democratic leaders are proposing a widely-popular wealth tax on the opulence of this tiny group. And oh, what wails of anguish this has generated in the lairs of billionaires! They’re indignant that fortunes above $50-million would be assessed a teeny surtax to help fund education, health care, infrastructure, and America’s other essential needs.
So, with a rallying cry of Save the Poor Rich, the Billionaire’s Brigade seeks your pity: Mark Zuckerberg laments that taxing his gabillions would hurt charities; Michael Bloomberg suggests that the tax could turn America into Venezuela; and Wall Street baron Leon Cooperman actually teared up while wailing that a wealth tax would harm his family. As one money manager said, “These tax proposals are scaring the bejeezus out of people who have accumulated a lot of wealth.”
I don’t think there’s much Jesus in these people! The Biblical Jesus would bless Sanders, Warren, and the majority of Americans who favor a wealth tax to benefit the Common Good. No need to cry for the few hundred haughty families whose love of money would be only slightly dinged by this tax – every one of them would still be fabulously rich. Plus, they’ll be privileged to live in a country that’s a little more closely aligned with its people’s egalitarian values. And that’s priceless.
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Reposted from Hightower Lowdown
